Microeconomics
c) Assume that additional firms enter and there is now an increase in supply from S1 to S2 and a new equilibrium occurs at D2 and S2 with a new market quantity of Q3 = 28,000:
1) MR and AR are equal to ____________________
2) The quantity produced by each firm is____________
3) Total revenue received by each firm is_________
4) Average total cost for each firm is_____________
5) Total cost of production for each firm is________
6) Average fixed cost for each firm is_____________
7) Average variable cost for each firm is__________
8) Economic profit for each firm is ________________
9) Number of firms is__________________________